Having had my offer accepted I require leasehold conveyancing in Weymouth. Before diving in I require certainty as to the remaining lease term.

Assuming the lease is recorded at the land registry - and most are in Weymouth - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Looking forward to complete next month on a garden flat in Weymouth. Conveyancing solicitors have said that they are sending me a report tomorrow. What should I be looking out for?

The report on title for your leasehold conveyancing in Weymouth should include some of the following:

• The physical extent of the demise. This will be the flat itself but might incorporate a roof space or cellar if appropriate.

I am attracted to a couple of flats in Weymouth both have approximately forty five years unexpired on the leases. Should I regard a short lease as a deal breaker?

There are no two ways about it. A leasehold flat in Weymouth is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the salability of the premises. The majority of buyers and mortgage companies, leases with less than eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Weymouth conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I am a negotiator for a busy estate agent office in Weymouth where we have experienced a few flat sales jeopardised due to leases having less than 80 years remaining. I have received inconsistent advice from local Weymouth conveyancing solicitors. Could you confirm whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?

Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Can you provide any top tips for leasehold conveyancing in Weymouth from the perspective of saving time on the sale process?

• A significant proportion of the delay in leasehold conveyancing in Weymouth can be avoided where you appoint lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the purchasers’ lawyers.
• The majority freeholders or managing agents in Weymouth charge for providing management packs for a leasehold homes. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Weymouth.

I invested in buying a 2 bed flat in Weymouth, conveyancing formalities finalised 5 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Weymouth with a long lease are worth £236,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease ends on 21st October 2094

With only 68 years unexpired the likely cost is going to range between £9,500 and £11,000 as well as legals.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.

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Lease Extensions in Weymouth